June 26, 2018 6:22pm
Of the 45 companies covered; 20 downside equities finished in a range of -$0.01 to -$11.40 while the 22 upside equities oscillated from +$0.04 to $7.17 with 3 flat closes.
What was driving today’s upside moves, the drama of Monday’s downside actions.
Start thinking more about support and resistance!!
Pre-open indications: 3 HITs and 0 MISS
It’s a duty and an honor to be a “canary in a coal mine”! What’s left when one is right so often? RMi is the source investors and traders need – it’s more than opinion, the facts and truth need to be recognized!
Henry’omics:
From the pre-open newsletter … “are some beaten-down stocks ready to party-up as many sector equities are stuck where volume slipped, alongside, beneath or barely above the three (3) month moving average. A “tricky” place …”
I also stated, “In today’s session, volume was up and in some cases exceeding the 3 month average – a new phenomenon.”
Sector equities closed slightly higher on Tuesday as shares rebounded from steep losses in the previous session - Monday (6/25) closed NEGATIVE with 31 decliners, 10 advancers and 4 flat), yet sentiment waned as trading kept a lid on gains.
In my universe of 45 companies, I have seen, in the month of June (so far): 11 positive, 6 negative and 1 neutral closes – not quite a roller-coaster but, too random for any pattern to be discerned.
Watch yopur "six" by Friday ...
MY working five (5) trend lines:
… The greatest volume to the downside: GBT, BMRN, XON, ONVO and BOLD
… Upside volume was weighted to: VSTM, MDXG, SGMO, BLUE and RGNX
… Biggest $ downside: SLDB (-$4.92), RENE.L (-$3.50), ALNY (-$1.53), BMRN (-$1.09) and BOLD (-$0.70)
… Best moves to the $ upside: SAGE (+$7.17), RGNX (+$3.15), CRSP (+$2.43), RARE (+$2.27) and AXGN (+$1.90)
… Flats: VCEL, CUR and BLCM
The weekly count - decliners versus gainers:
……. look at the differences in decliners:
- Tuesday’s decliners ranged from -0.21% <BSTG -$0.01 > to -11.40% <SLDB -$4.92) in 20 equities;
- Monday’s decliners ranged from -0.83% <ADVM -$0.05 > to -8.1% <FATE -$1.04) in 31 equities;
- Friday’s decliners ranged from -0.64% <SLDB -$0.27> to -10.34% <CUR -$0.12> in 19 equities;
- Thursday’s decliners ranged from -0.18% <CRSP -$0.12 > to -17.25% < CLBS -$1.49> in 36 equities;
- Wednesday’s decliners ranged from -0.28% < STML -$0.05> to -17.05% <SLDB -$7.33> in 11 equities;
- Last Tuesday’s decliners ranged from -1.52% <ALNY -$1.61 > to -0.23% <BCLI -$0.01 > in 19 equities;
Versus
… Look at the percentage’s (%) and spreads …
- Tuesday’s gainers ranged from +0.11% <EDIT +$04 > to +0.32% <CLBS +0.53 > in 22 equities;
- Friday’s gainers ranged from +0.46% <VCEL +$0.05 > to +9.46% <BLFS +$1.09> in 24 equities;
- Thursday’s gainers ranged from +0.09% <BMRN +$0.09 > to +18.7% <SLDB +$6.67 > in 9 equities;
- Wednesday’s gainers ranged from +0.06% <XON +$0.01> to +30.71% <CLBS +$2.03 > in 31 equities;
- Last Tuesday’s gainers ranged from +0.04% <BMRN +$0.04 > to +46.36% <SLDB +$13.62 > in 24 equities;
Pre-open indications: 3 HITs and 0 MISS
- Athersys (ATHX) closed down -$0.01 – hit;
- Vericel (VCEL) closed flat at $10.35 – hit;
- Verastem Oncology (VSTM) closed up +$0.07 – hit;
Daily analytics and metrics:
- The Dow rose 30.31 points to close at 24,283.11,
- The S&P 500 gained 0.2% and ended at 2,723.06,
- The NASDAQ advanced 0.4% to 7,561.63
The advance/decline line scenario of 45 covered companies:
- The open was negative with an A/DL of 19/23 and 3 flats;
- The mid-day flipped positive with an A/DL of 27/17 and 1 flats;
- The close was barely positive with an A/DL of 22/20 and 3 flats;
The CBOE Volatility Index (VIX) widely considered the best gauge of fear in the market,
- Tuesday traded at 16.16, down -6.75%
- Monday traded at 17.33, up +3.56%
- Friday traded at 13.77, down -5.94%
- Thursday traded at 14.66, up +14.62%
- Wednesday traded at 12.79, down -4.19%
- Last Tuesday traded at 13.35, up +8.45%
The iShares Russell 2000 (IWM) closed:
- Tuesday was up +0.61%;
- Monday was down -1.61%;
- Friday was down -0.36%;
- Thursday was down -0.96%;
- Wednesday was up +0.81%;
- Last Tuesday was up +0.04%;
The iShares NASDAQ Biotechnology (IBB) closed:
- Tuesday was down -0.43%
- Monday was down -1.81%
- Friday was down -0.34%
- Thursday was down -1.13 %
- Wednesday was up +1.66%
- Last Tuesday was up +1.46%
June sessions:
Tuesday closed POSITIVE with 20 decliners, 22 advancers and 3 flat;
Monday (6/25) closed NEGATIVE with 31 decliners, 10 advancers and 4 flat;
Friday closed POSITIVE with 19 decliners, 24 advancers and 2 flat;
Thursday closed NEGATIVE with 36 decliners, 9 advancers and 0 flat;
Wednesday closed POSITIVE with 11 decliners, 31 advancers and 3 flats;
Tuesday closed NEGATIVE with 19 decliners, 24 advancers and 2 flat;
Monday (June 18) closed NEGATIVE with 22 decliners, 21 advancers and 2 flat;
Friday closed POSITIVE with 16 decliners, 23 advancers and 6 flat;
Thursday closed POSITIVE with 18 decliners, 26 advancers and 1 flat;
Wednesday closed POSITIVE with 20 decliners, 22 advancers and 3 flats;
Tuesday closed POSITIVE with 17 decliners, 27 advancers and 1 flat;
Monday (June 11) closed NEGATIVE with 26 decliners, 18 advancers and 1 flat;
Friday closed NEUTRAL with 22 decliners, 22 advancers and 1 flat;
Thursday closed NEGATIVE with 34 decliners, 9 advancers and 2 flat;
Wednesday closed POSITIVE with 17 decliners, 24 advancers and 4 flat;
Tuesday closed POSITIVE with 14 decliners, 30 advancers and 1 flat;
Monday (June 4) closed POSITIVE with 18 decliners, 25 advancers and 2 flat;
Friday (June 1) closed was POSITIVE with 15 decliners, 29 advancers and 1 flat;
Opinions expressed are those of the author and are subject to change, and not intended to be a forecast of future events, a guarantee of future results, nor investment advice.
Whether information or intelligence is good, bad or somewhere in between; I put into context what is relevant and useful for investors. All investments are subject to risks. Investors should consider investment objectives.
Henry McCusker, the editor and publisher of RegMed Investors does not hold or have positions in securities referred to in this publication.
